Hard decisions will have to be made, officials say
Austin ISD officials promised the community last month that they would do everything in their power to spare classrooms from the district’s plannedThe district announced on May 9 that its estimate of the 2024-25 budget deficit skyrocketed from $60 million to $89 million. School officials had used the $60 million figure as the basis for a package of cuts designed to halve the deficit to $30 million, which is about as much debt as the district can carry without damaging its credit rating.
VATRE stands for Voter-Approved Tax Rate Election, a possible solution to the budget crunch that the district has mulled over the last month. If the board approves a VATRE, voters will be asked to decide at a November election whether to support an increase in the rate at which properties are taxed. If the community supports the higher rate, the board estimates it will receive an additional $41 million in revenue. The average homeowner’s taxes would increase about $421 a year, or $35 a month.
“I want to be clear that what we will be doing with a VATRE is feeding the beast,” Foster said. “We’re talking about collecting $1 from our residents and giving 75% of it to people that will hurt us, that will do voucher , that will do all sorts of machinations that will continue the pain. I see it as part of our demise. I see it as something that’s going to hurt us even more.”
Austin ISD Eduardo Ramos Matias Segura Recapture
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